Get 1500 Co-op Points for opening a mortgage.

Our Loan Officers understand the complex decision you have to face and are here for you. Choosing UMassFive can help make your home buying/refinancing experience a little bit easier.

With MortgageClick®, applying for a Mortgage has never been easier. UMassFive College Federal Credit Union offers online Mortgage application and approval 24 hours a day, plus many other helpful features to help you evaluate your options, estimate payments, check rates and more.

• Choose / Apply - Let MortgageClick® help you find a program that is right for you. We'll walk you through the process, explain loan options and help you to research rates for the program that meets your needs. After you have selected your loan program, complete our streamlined application and receive an answer within minutes. Once you have submitted your application, you may view your status and communicate with our mortgage department during the entire process.
• Learn - If you're not quite ready to apply, MortgageClick® is still the place to go to learn all about the mortgage process, resources for first time home buyers, purchasing or refinancing.
• More - To learn more about MortgageClick®, visit this section. There you will find our privacy policy, purchase, refinance and amortization loan calculators, insurance information and property information.

Conventional Fixed Rate loans are available for purchase and refinance:

• Competitive Rates with terms up to 30 years
  
• 0, 1, and 2 point programs available
• Payments may be made automatically from your Credit Union account

Adjustable Rate loans available for purchase and refinance:

• Competitive Rates with 30 year terms
• 0, 1, and 2 point programs available
• Payments may be made automatically from your Credit Union account

Special! First-time Buyer HLPR Mortgage

• Discounted rate for first three years
• Minimum 3% down, $500.00 borrowers own funds
• Private Mortgage Insurance waived
• Payments may be made automatically from your Credit Union account

Jumbos

Mortgages are available for amounts over:

• $417,000 for a single family home
• $533,850 for a two-family residence

FEES

There is an application fee that varies for a single family home or condominium, and a 2-4 family home. This fee includes the cost of automated underwriting, appraisal and credit report. Additional fees may be assessed to re-certify documents if the closing is not held within 120 days. The borrower is responsible for all attorney fees, which include plot plan, title insurance, title examination, document preparation, recording fees, etc. Loans sold to an investor include an investor review fee, and a tax service fee.

Down payments on mortgages may be as low as 3% of the purchase price for single family homes and condominiums, 5% of the purchase price for 2 family homes, and 20% of the purchase price for 3-4 family homes. Down payments of less than 20% of the purchase price require Private Mortgage Insurance.

For questions or assistance, please contact a Representative or email us today!